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tv   Asia Business Report  BBC News  February 13, 2024 1:30am-1:46am GMT

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hello and welcome to asia business report. i'm arunoday mukharji. let's start by talking about the bitcoin bounce. the world's largest cryptocurrency topped 50 thousand dollars for the first time in more than two years on monday 7 the latest sign of a massive rebound for the crypto sector. so what 5 behind the rally? our correspondent michelle fleury has more from new york. now, if you'd invested $1,000 in bitcoin at the start of the year, you'd have about $180 more than you started with. the flagship cryptocurrency has risen about 18% this year after reaching a milestone on monday that it hasn't seen since december 2021. one explanation is that you can now put money into bitcoin through your investment bank. us financial regulators recently approved the first exchange traded funds tied directly to the cryptocurrency.
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demand for these bitcoin funds, which began trading mid—january, has been robust. bitcoin has also benefited from expectations that the federal reserve will soon cut interest rates. investors believe the first rate cut in years could come as early as may. higher rates scare investors away from riskier investments like cryptocurrencies, so lower rates are seen as a positive. now, while investors are starting to look at cryptocurrencies as a legitimate asset class, many warn there are still very volatile. bitcoin is worth about $20,000 less than the record high. less than the record high the token hit back in 2021. staying with the us, former president donald trump has asked the supreme court to keep his criminal trial for trying to overturn the results of the 2020 elections on hold. mrtrump is campaigning to return to the white house this year as a
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potential republican candidate. one issue that's likely to rank high in terms of voter concerns is the country's relationship with china. president biden has been taking a tough stance, restricting chip technology exports including limiting trade on batteries for electric vehicles. and potential republican candidate donald trump has renewed threats of tariffs against china. during his years in office, he put around 250 billion dollars of tariffs on a wide range of products. for more, lets bring in amy celico, a former american diplomat and us china trade expert from albright stonebridge group. because 2023 was just such a tense year with us and china not talking. so, for example, with the united states and
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china restarting military to military talks it's not a sign of an improved relationship but both sides understand that these are very difficult issues and an accident could quickly escalate into a conflict if they can't prevent it so whether it's economic issues, military issues, transnational issues. the us and china are talking again but i'd hasten to add that the relationship isn't necessarily improving, it's just managing the tension is a little bit better than in 2023. what would china prefer under the circumstances? i what would china prefer under the circumstances?— the circumstances? i think president _ the circumstances? i think president trump - the circumstances? i think president trump in - the circumstances? i think president trump in his - president trump in his re—election bid is focusing on cumulative damage to the us china relationship and to shore up china relationship and to shore up american interests so his talk of a 16% tariff hike is
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meant to do what he has long wanted to do which is to reduce the trade deficit that the united states has with china. he is now talking about implementing a four—year national reassuring plan to reduce us reliance on china for so many different goods coming into the market. the biden administration is doing the same, increasing export control restrictions, limiting american technology to china and, so, for the chinese, i think they are very low it to say who they'd prefer an office. what they'd prefer an office. what they continue to say is that they continue to say is that they want the us— china relationship to remember some of the benefits of the economic relationship which is very difficult right now as the us
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looks at the national security consideration. thousands of drivers from food delivery platforms, including deliveroo and uber eats, are expected to go on strike across the us on valentine's day. they are demanding better pay and improved working conditions, according to driver's groups. the demonstrations come after lyft said it would gurantee weekly earnings for drivers, in a first for the us ride hailing industry. thousands of security forces have been deployed. routes interstates have been barricaded. farmers from hundreds of unions are trying
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to push for better crop prices which changed after a protest in 2021. national elections form a large voting block in —— farmers form a large voting block in national elections. its a busy election year in many parts of the world. this week, on wednesday 7 indonesia goes to polls to select its next political leader. millennials and gen zs make up more than half of the country s 205 million eligible voters. the number one concern for them 7 jobs. my colleague steve lai sent this report from jakarta, ahead of the presidential election. walking around you can't help but notice the number of young people. nearly half the population is under the age of 30 but when it comes to employment younger job—seekers are struggling. for those under the age of 25 is 19%. we are struggling. for those under the age of 25 is 19%.— the age of 25 is 19%. we need to seekjobs _ the age of 25 is 19%. we need to seekjobs being _ the age of 25 is 19%. we need to seekjobs being created - the age of 25 is 19%. we need to seekjobs being created forj to seekjobs being created for the young labour force but what is more difficult is to prepare
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this young labour force to be able to respond to the new demand from the industry, from the economy. most of the labour force are not highly educated, or all well trained. force are not highly educated, orall well trained. i’m force are not highly educated, or all well trained.— or all well trained. i'm on a busy part — or all well trained. i'm on a busy part of— or all well trained. i'm on a busy part ofjakarta - or all well trained. i'm on a busy part of jakarta where l busy part of jakarta where students and university likes to hang out and they are lucky because they are getting a higher education. but what will the future hold when join the workforce? i the future hold when 'oin the workforcevfi workforce? i think the most important — workforce? i think the most important is _ workforce? i think the most important is a _ workforce? i think the most important is a governmentl workforce? i think the most - important is a government that can support a young generation, gently. every year, we have 1 million graduates— every year, we have 1 million graduates and i don't understand how they can
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accommodate that. we understand how they can accommodate that. ~ ., ., , accommodate that. we are hoping the don't accommodate that. we are hoping they don't give _ accommodate that. we are hoping they don't give us _ accommodate that. we are hoping they don't give us empty - they don't give us empty promises _ they don't give us empty promises. as— they don't give us empty promises. as youths, . they don't give us emptyj promises. as youths, we they don't give us empty - promises. as youths, we are going — promises. as youths, we are going to _ promises. as youths, we are going to the _ promises. as youths, we are going to the workforce - promises. as youths, we are going to the workforce to - promises. as youths, we are. going to the workforce to help the economy— going to the workforce to help the economy improved. - going to the workforce to help the economy improved. one. going to the workforce to help the economy improved. one thing the economy improved. one thing the government _ the economy improved. one thing the government is _ the economy improved. one thing the government is keen _ the economy improved. one thing the government is keen to - the government is keen to develop its electric vehicles on the market is showing signs of growth. charging stations like this are growing in number and the private sector is getting into the game too. a korean car—maker is already manufacturing cars here and while this investment creates jobs, there are questions about the ev supply chain. if jobs, there are questions about the ev supply chain.— the ev supply chain. if we look at that area — the ev supply chain. if we look at that area of _ the ev supply chain. if we look at that area of investment, - the ev supply chain. if we look| at that area of investment, who other_ at that area of investment, who other people working in the area? — other people working in the area? it's not the local heapie. _ area? it's not the local people, it's the outsiders so
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we want _ people, it's the outsiders so we want to see family investment for local people. it significant. for indonesia's next president, the challenge is twofold, creating jobs and enough to help the young people entering the workforce each year. stay with our 2024 election coverage tomorrow when i'll be joined by our chief presenter steve lai as voters head to the polls. you can also keep up with the latest results on our website. before we go... social media platform x says it will soon allow brands to run ads next to certain content creators. this would prevent ads from appearing next to controversial or offensive content. firms including apple and disney paused advertising on the elon musk owned platform last year, after a us left leaning pressure group flagged that ads were appearing next to pro nazi posts. it is unclear how much of x's
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revenue comes from adverts. tensions are running high in a long running dispute after polish farmers stopped several ukrainian trucks at the border and emptied some of their grain cargo onto the road. ukraine has demanded action. and that's it for this edition of asia business report. thanks for watching. do stay on with bbc news.
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so, one way of dealing this is to take this out of the person first and then give the chemotherapy want and then a day or two later we put this back. the centre is thought to be of the biggest in europe. people likejonathan rush between here and the lab. in yorkshire, demand for stem cells is high which means the nhs needs more donors.
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we start in the middle east where to israeli hostages have been rescued in a raid. they are in good condition after being kidnapped on the 7th of october. at least 70 0ctober. at least 70 palestinians were killed which means the total number of people to have died in gaza is significant. other stories, people to have died in gaza is
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significant. 0therstories, one significant. other stories, one in significant. 0therstories, one in top experts have begun meeting to respond to this research, next to the arctic there was a boy who doctors thought would never walk has walked to the arctic to paper tribute to his dad who died of bowel cancer two years ago. he endured low temperatures. a big congratulations to him. what an achievement. and we'll leave you with ten seconds of a carnival in rio. there are lots of performances celebrating the amazon rainforest on the indigenous communities in brazil. look at those outfits. all the sparkles, all the lights. quite iconic. you are all caught up now. see you
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later. hello there and welcome along to sportsday. i'm gavin ramsey. chelsea leave it late, but come from behind to beat crystal palace as the pressure piles on their manager, roy hodgson.
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tragedy in kenya as the men's marathon world record holder kelvin kipton, dies at the age of 24. and fernando alonso says his priority is with aston martin as the former f1 champion talks to the bbc on his future moves within the sports. hello there and welcome along to the program. we begin in the premier league where two goals from conor gallagher helped chelsea come from behind to beat struggling crystal palace 3—0 at selhurst park. mauricio pochettino's side couldn't muster a shot until the 45th minutes as palace looked to frustrate their opponents and pick up a much needed win to ease the pressure on manager roy hodgson. palace took the lead throuthefferson lerma, but chelsea continued to push.
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gallagher equalised and secured the win in stoppage time

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